EURUSD Daily Support@ 1.03484
U.S. Dollar Declines and Dow Jones Rises on Slower Rate Hike Signals
Yesterday’s volatility level was lower due to the Thanksgiving bank holiday and may also be reduced today for some assets. The main news in the market continues to be China’s “Zero COVID-19” policy. So far, the government has not placed any cities in lockdowns as we have seen in the past. This is positive oil prices and global supply chains. Mass testing and isolation have already significantly lowered demand and economic activity.
The US Dollar continues to decline for a fourth consecutive day but has shown signs in the past 24 hours of finding resistance. US investors have mainly been focused on the signals from the Federal Open Market Committee this week regarding a reduced rate hike for December. No news or data is scheduled for today or Monday related to the US Dollar. This morning, the US Dollar Index remains below the 106.00 psychological level.
Yesterday’s volatility level was lower due to the Thanksgiving bank holiday and may also be reduced today for some assets. The main news in the market continues to be China’s “Zero COVID-19” policy. So far, the government has not placed any cities in lockdowns as we have seen in the past. This is positive oil prices and global supply chains. Mass testing and isolation have already significantly lowered demand and economic activity.
The US Dollar continues to decline for a fourth consecutive day but has shown signs in the past 24 hours of finding resistance. US investors have mainly been focused on the signals from the Federal Open Market Committee this week regarding a reduced rate hike for December. No news or data is scheduled for today or Monday related to the US Dollar. This morning, the US Dollar Index remains below the 106.00 psychological level.
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